Understanding your options with reversionary pensions 01 Apr 2021

Blog / SMSF

Surviving spouses are not obligated to accept a reversionary pension and there are various strategies to prevent an automatic acceptance, including giving up the pension.

Recipients have a 12-month window to decide what to do with the reversionary pension. As it is not an option to roll back the pension into a super accumulation account, special consideration needs to be given to tax planning and the general transfer balance cap when accepting reversionary pensions.



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Disclaimer and Warning
The information above is of a general nature only.  It should not be used as a source to make financial decisions.  It's also important to note that the legislation and figures related to this topic tend to change regularly and therefore the information above may not reflect the current status.  We recommend that if you are looking for advice on this matter, you should contact us.

 


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SOLOMON FORMAN SMSF SPECIALIST ADVISOR SMSF SPECIALIST AUDITOR Forman Financial Services SOLOMON FORMAN CERTIFIED FINANCIAL PLANNERĀ® Forman Financial Services
 
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